Dropbox (DBX) PT Lowered to $32.00

Dropbox (NASDAQ:DBX) had its price target dropped by research analysts at Jefferies Financial Group to $32.00 in a note issued to investors on Friday, The Fly reports. Jefferies Financial Group’s target price points to a potential upside of 25.05% from the company’s current price.

Several other research firms have also commented on DBX. William Blair assumed coverage on shares of Dropbox in a research note on Tuesday, December 11th. They issued an “outperform” rating for the company. Canaccord Genuity decreased their price target on shares of Dropbox from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, November 9th. Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Tuesday, November 13th. Finally, ValuEngine lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Dropbox currently has an average rating of “Buy” and an average price target of $33.57.

NASDAQ:DBX opened at $25.59 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.13. Dropbox has a 52 week low of $18.50 and a 52 week high of $43.50.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 21st. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.15. Dropbox had a negative net margin of 38.83% and a negative return on equity of 158.23%. Equities analysts anticipate that Dropbox will post -1.05 EPS for the current year.

In related news, General Counsel Bart Volkmer sold 4,306 shares of Dropbox stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $23.25, for a total value of $100,114.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ajay Vashee sold 13,731 shares of Dropbox stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $23.15, for a total transaction of $317,872.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,442 shares of company stock valued at $3,362,557.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Dropbox by 22.7% in the 4th quarter. BlackRock Inc. now owns 12,611,171 shares of the company’s stock valued at $257,646,000 after buying an additional 2,332,796 shares in the last quarter. FMR LLC grew its stake in Dropbox by 341.4% in the 3rd quarter. FMR LLC now owns 10,379,810 shares of the company’s stock valued at $278,490,000 after buying an additional 8,028,401 shares in the last quarter. Vanguard Group Inc. grew its stake in Dropbox by 51.9% in the 3rd quarter. Vanguard Group Inc. now owns 6,473,087 shares of the company’s stock valued at $173,673,000 after buying an additional 2,211,823 shares in the last quarter. Vanguard Group Inc grew its stake in Dropbox by 51.9% in the 3rd quarter. Vanguard Group Inc now owns 6,473,087 shares of the company’s stock valued at $173,673,000 after buying an additional 2,211,823 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Dropbox by 19.5% in the 4th quarter. First Trust Advisors LP now owns 3,911,795 shares of the company’s stock valued at $79,918,000 after buying an additional 639,476 shares in the last quarter. Institutional investors and hedge funds own 24.56% of the company’s stock.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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